Branding Strategies On Consumer Buying Preference Towards Dairy Products in India: An Updated Review

In a cluttered market space, what makes one differ from the other is the branding strategy. Branding is a process by which companies develop a long-term plan to achieve their goal of creating a space in the minds of consumers. A strong branding strategy helps to create an emotional connection between its current customers as well as its prospective customers. Brands have a responsibility to gauge their customer and alter their perception through marketing interventions. Research in marketing and consumer behaviour suggests that some consumers form relationships with brands in much the same way that they form relationships with other individuals and that the nature of these relationships can differ across consumers. The present review article discusses the importance of branding from an economic point of view. It analyses how brands provide important functions to consumers, identifying the source or maker of a product and allows consumers to assign responsibility to a particular manufacturer or distributor. Most important brands take on special meaning to consumers. Due to past experiences with the product and its marketing program over the years, consumers find out which brands satisfy their needs and which ones do not. Therefore, brands provide a simplified device for their product decision. If consumers have some knowledge about the brand, they would easily recognise it, and they would not have to waste time in making a decision. Thus, from the economic perspective, brands allow consumers to lower the search cost for products. Branding strategy plays a very decisive role as far as consumer buying preference is concerned. This review will help the researchers to identify the factors that influence the consumer’s buying preference. It would also throw light on the consumer perception. It would stimulate not only public opinion but may have a positive impact on the conscience of the companies, cooperatives and may also help the Government agencies in correcting the policy.